LendingClub (NYSE:LC) Price Target Raised to $19.00 at Compass Point

LendingClub (NYSE:LC) had its target price increased by investment analysts at Compass Point from $15.00 to $19.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the credit services provider’s stock. Compass Point’s target price points to a potential upside of 40.95% from the company’s current price.

A number of other brokerages have also commented on LC. Maxim Group increased their price target on shares of LendingClub from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Friday. Keefe, Bruyette & Woods upgraded shares of LendingClub from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $11.50 to $15.00 in a research note on Thursday, October 10th. JPMorgan Chase & Co. boosted their target price on shares of LendingClub from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Tuesday, August 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price target (up from $13.00) on shares of LendingClub in a report on Thursday. Finally, StockNews.com upgraded LendingClub from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, LendingClub has a consensus rating of “Moderate Buy” and an average price target of $15.38.

LendingClub Price Performance

LendingClub stock traded down $0.34 during mid-day trading on Friday, reaching $13.48. 1,221,839 shares of the company traded hands, compared to its average volume of 1,441,085. The firm’s fifty day moving average is $11.64 and its two-hundred day moving average is $9.98. The company has a market capitalization of $1.50 billion, a price-to-earnings ratio of 39.85 and a beta of 2.04. LendingClub has a fifty-two week low of $4.73 and a fifty-two week high of $15.52.

LendingClub (NYSE:LC) last issued its earnings results on Wednesday, October 23rd. The credit services provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $201.90 million during the quarter, compared to analyst estimates of $190.40 million. LendingClub had a return on equity of 3.38% and a net margin of 5.61%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. As a group, equities research analysts predict that LendingClub will post 0.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Scott Sanborn sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $10.25, for a total value of $174,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,383,362 shares in the company, valued at $14,179,460.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 51,703 shares of company stock worth $562,705. 3.31% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LC. Baader Bank Aktiengesellschaft purchased a new stake in LendingClub during the 2nd quarter worth approximately $600,000. Capstone Investment Advisors LLC purchased a new stake in shares of LendingClub during the first quarter worth approximately $164,000. Vanguard Group Inc. raised its stake in LendingClub by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 11,270,308 shares of the credit services provider’s stock valued at $98,502,000 after purchasing an additional 336,827 shares during the last quarter. Interval Partners LP lifted its holdings in LendingClub by 54.3% in the 2nd quarter. Interval Partners LP now owns 495,039 shares of the credit services provider’s stock valued at $4,188,000 after purchasing an additional 174,130 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in LendingClub by 8.2% during the 1st quarter. Empowered Funds LLC now owns 314,729 shares of the credit services provider’s stock worth $2,766,000 after purchasing an additional 23,790 shares during the last quarter. Institutional investors and hedge funds own 74.08% of the company’s stock.

About LendingClub

LendingClub Corporation, operates as a bank holding company, that provides range of financial products and services in the United States. It offers deposit products, including savings accounts, checking accounts, and certificates of deposit. The company also provides loan products, such as consumer loans comprising unsecured personal loans, secured auto refinance loans, and patient and education finance loans; and commercial loans, including small business loans.